NEW YORK (Reuters) - The New York Mercantile Exchange said
on Monday it will launch on March 17 the first slate of futures
and options contracts for credits representing reductions in
greenhouse gases and other pollutants as part of its Green
Exchange initiative.

NYMEX and Evolution Markets, a New York-based environmental
products and energy brokerage, formed the Green Exchange late
last year.

The venture will initially offer futures and options on
carbon credits traded under the Kyoto Protocol on global
warming, including European Union Allowances which allow
greenhouse trade between developed countries that ratified the
pact.

It will also offer futures on Certified Emissions
Reductions, which represent greenhouse gas reductions brought
about by investments from rich countries in clean energy
projects in developing countries, such as wind and solar power
farms.

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The futures contracts will be available for trading on the
CME Globex electronic trading platform, the options contracts
will be available for trading on the NYMEX trading floor, and
all contracts will be available for clearing on the NYMEX
ClearPort, NYMEX said in a release.

The EUA and CER futures contracts will be physically
delivered at the UK Emissions Trading Registry, it said.

The Green Exchange said last year it will eventually offer
products in voluntary greenhouse gas trade.